Between February and April, our new research arm–the Endeavor Center for High-Impact Entrepreneurship–surveyed over 200 employees from eight Endeavor companies in South Africa. The goal was to assess if and how these companies are affecting their employees’ standard of living, in such areas as education, health, and income. Among other findings, it was determined that employees’ average monthly compensation was twice the average for all South African employees. Families of employees at Endeavor companies also have better housing and greater access to health care. Nearly two-thirds of respondents said they want to start their own company in the future. Starting this summer, the Center for High-Impact Entrepreneurship will expand the study to other countries where Endeavor operates.
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Brazil’s Bebê Store Announces Acquisition of Competitor Baby.com.br; Receives Investment From Endeavor Catalyst
Bebê Store, a leading online baby goods retailer in Brazil co-founded by Endeavor Entrepreneur Leonardo Simão, recently announced the acquisition of Baby.com.br, one of its main competitors in the region. In addition, the company successfully raised a $12.3 million […]
July 24th, 2014 — by adminRead more
In the news
To view Endeavor’s February newsletter, a recap of all the top news stories from the previous month, please CLICK HERE. Reminder: To receive our monthly newsletters by email, please enter your email address in the […]
February 4th, 2013 — by adminRead more
Latest Video(video) Endeavor CEO Linda Rottenberg Featured On Fox Business’ After The Bell
July 15th, 2014
Congratulations to Endeavor Uruguay on a decade of excellent work. Endeavor Uruguay kicked off their 10th-year anniversary celebrations with a panel last month. Board chairman Gabriel Rozman spoke about the organization’s successes, highlighting that Uruguay’s Endeavor Entrepreneurs comprise 0.6% of the country’s total GDP.
The Minister of Economy, Fernando Lorenzo, and IDB Representative Tracy Betts were also on-hand acknowledging Endeavor’s impact. Several top national TV stations and newspapers covered the event. In the past decade, Endeavor Uruguay has selected and supported 55 entrepreneurs with total 2009 revenues of US$172 million.
Left to right: Tracy Betts, Fernando Lorenzo, Gabriel Rozman, Laura Raffo
Endeavor Mexico hosted roughly 100 entrepreneurs at its annual CEO Summit on May 26th. Billed as an “anti-conference,” the Summit took place at a restored early 20th century cultural center in Mexico City. Highlights of the event included an introductory talk by Endeavor Global board member Michael Ahearn, Executive Chairman of First Solar, and a “speed dating” session where Entrepreneurs had three minutes each to introduce themselves and their businesses to each other.
The one-day Summit ended with Ahearn and seven Endeavor Mexico board members including former finance minister Pedro Aspe hosting a dozen entrepreneurs each at individual bars set up in the Center’s courtyard. Signature drinks were provided by Endeavor firm Tequila Milagro.
Endeavor Turkey has launched a highly-publicized partnership with Akbank, one of the largest private banks in Turkey. The partnership provides Endeavor Entrepreneurs with a $20 million credit pool, with access to more favorable rates, terms, and payment options than the market offers. The average loan amount offered per entrepreneur is one of the highest offered in Turkey.
A ceremony and press conference took place on May 25th to celebrate the partnership, which could serve as a best practice example for other Turkish banks providing banking services to entrepreneurs. Endeavor Turkey recognizes Vice-Chair Suzan Sabanci Dinçer for initiating the project, Finance Committee Members (Bülent Çelebi, Mahmut Ünlü, Mustafa Say, Murat Özyegin) for offering guidance and feedback throughout all stages, and Chairman Özcan Tahincioglu for his continued support.
Latin America’s leading branded-entertainment agency, FiRe Advertainment, has partnered with Endeavor Argentina to produce 30 paid mini-documentary films — each highlighting an accomplished Argentine entrepreneur. The films have begun to air on FOX cable channels and in movie theaters across Argentina. To learn more about the project, see the recent writeup in Advertising Age.
Globant, an Endeavor-supported software developer, is one of the companies featured. “In seven years, it already has 2,500 employees and Argentinians already consider it as the local Google,” said FiRe founder and president Rodrigo Figueroa Reyes. Click here to view the promo video for the project.
From April 21-23, Endeavor held its 34th International Selection Panel in Rio de Janeiro. An all-star panel selected 20 new Endeavor Entrepreneurs representing 11 companies from four countries — bringing our global total to 506 entrepreneurs (328 companies).
Several inductees from Brazil operate outside of Sao Paolo. Said Endeavor CEO Linda Rottenberg: “As the ISP results reinforce, High-Impact Entrepreneurship isn’t limited to big cities. Visionaries are everywhere, making an impact on their countries at large; so is Endeavor.” The ISP kicked off Endeavor Brazil’s 10-year anniversary celebrations, which will culminate in an awards dinner this November.
Congrats to our newest Endeavor Entrepreneurs:
South Africa: InnoVent
Endeavor was well-represented at the White House Presidential Summit on Entrepreneurship in Washington, D.C. from April 26-27. The Summit, hosted by the Department of State and Department of Commerce, aimed “to deepen ties between business leaders, foundations, and entrepreneurs in the United States and Muslim communities around the world.” Over 250 participants attended, from 50 countries.
Endeavor CEO Linda Rottenberg, along with Endeavor Jordan founding board member Fadi Ghandour, spoke on a panel “The Culture of Entrepreneurship” (see the YouTube video below), and four Endeavor Entrepreneurs from Turkey and Jordan attended the Summit as delegates:
- Nevzat Aydin, Yemeksepeti, Turkey
- Bulent Celebi, Airties, Turkey
- Mansour Mansour, Javna, Jordan
In the closing remarks to the Summit, U.S. Secretary of State Hillary Clinton cited Endeavor as one of the State Department’s partners for their e-mentoring program that is to be launched later this year.
On April 28, Endeavor hosted a breakfast and panel on High-Impact Entrepreneurship where participating Endeavor Entrepreneurs talked about local barriers to entrepreneurship, how to reverse “brain drain,” and the role of government in fostering innovation.
In response to the devastating Chile earthquake on February 27th, Endeavor started a fund to help Chilean citizens rebuild their lives. To date, the fund has raised US$900,000, including $300,000 from Endeavor Entrepreneurs. The proceeds will be used to replace 30 fishing boats wiped away in the tsunami, helping to sustain employment for numerous lobster fishermen in the village of Tubul (Gulf of Arauco) — impacting the lives of 2,000 people and stimulating trade in a town that is 100% reliant on fishing. Please use the contact form on our website to learn more.
Hot off the press: “The Entrepreneurial Dialogues: State of Entrepreneurship in South Africa” [PDF].
The whitepaper, as the first in a series of reports co-authored with Gordon Institute of Business Science (GIBS) and sponsored by First National Bank, aims to stimulate public-private collaboration in creating an environment conducive to entrepreneurship.
On March 25 in Johannesburg, Endeavor South Africa held a well-attended launch event for the whitepaper. Click here to see photos from the event. Also, check out news coverage of report recommendations to bolster investment for enterprise development and support local business incubators.
Endeavor is highlighted in The Economist’s special 14-page report on entrepreneurship this week. Note: links to the articles below require subscription to The Economist.
In the lead article, “Global Heroes,” Adrian Wooldridge points out that “(d)espite the downturn, entrepreneurs are enjoying a renaissance the world over.” He argues that now is entrepreneurship’s moment for “creative creation,” and points to the numerous opportunities the current financial crisis opens up for entrepreneurs. “Microsoft, Genentech, Gap and The Limited were all founded during recessions,” Wooldridge writes. He references the Endeavor Survey carried out in eight emerging markets last November, which found that while 85% of Endeavor Entrepreneurs felt the impact of the crisis and 88% thought the worst was yet to come, on average, they believed “their businesses would grow by 31% and their workforces by 12% this year.”
In “Magic Formula,” Wooldridge highlights Endeavor Entrepreneur Bento Koike for having built “one of the world’s most successful manufacturers of wind-turbine blades, in Brazil. He says that “today’s smart entrepreneurs start global.”
In “Saving the World” Wooldridge discusses the fact that “entrepreneurship is reshaping the voluntary sector,” by using business techniques to philanthropy. He points to South African Endeavor Entrepreneur Shane Immelman who “has built a successful company by trying to bring the benefits of education to poor schoolchildren in South Africa” with his company, Lapdesk.
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In the news
- July 29th, 2014
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- (video) Endeavor CEO Linda Rottenberg Featured On Fox Business’ After The Bell
- (video) Endeavor CEO Linda Rottenberg Discusses Her Entrepreneurial Journey in Business Insider
- (video) Endeavor Greece Reports on Youth Job Creation, Focuses on the Need for High-Impact Entrepreneurship
- (video) Linda Rottenberg Discusses Lessons in Entrepreneurship for Stanford’s eCorner Series
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